Archives

Habitat for Humanity of Greater Los Angeles (Habitat LA) will dedicate a seven home development, located at 3305 Magnolia Ave, in Lynwood, CA on Saturday, August 29. The seven partner homebuyer families have contributed hundreds of sweat equity hours toward the building of their homes and will pay back a monthly interest free mortgage. The dedication will take place from 11am to 1pm and will celebrate hundreds of hours of hard work and the fulfillment of a lifelong dream for these seven hardworking, low-income families

Even with rising home prices over the past few years, many homeowners who have considered selling are deciding not to because they are caught in an affordability squeeze that is compounded by a lack of inventory, according to findings from the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2015 Survey of California Homeowners.” More than one-third (35 percent) of homeowners have considered selling their home in the past year, and of that share, about two-thirds (64 percent) are reluctant to sell because they are finding they can’t afford the home they really want, the survey found.

The City of Riverside is accepting applications through Aug. 28 for grants of as much as $25,000 that are available through the Historic Preservation Fund, which helps individuals, corporations, non-profit organizations and public agencies improve historic properties within the City limits.

The White House and Federal Housing Administration (FHA) released statements indicating that they are preparing new Property Assessed Clean Energy (PACE) guidance designed to “remove existing barriers and accelerate the use of PACE financing for single family housing.” The White House Fact Sheet on the initiative may be found here

California pending home sales soared from the previous year in July, posting the strongest year-over-year increase in more than six years, CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. In a separate report, California REALTORS® responding to C.A.R.’s July Market Pulse Survey saw a reduction in floor calls, listing appointments, and open house traffic, compared with June.

C.A.R. analysis finds significant disparity between home prices and what buyers can truly afford. Dearth of housing supply at affordable prices exacerbates housing affordability issue.

BH Properties, LLC, a Los Angeles-based firm that specializes in acquiring and repositioning challenged or distressed commercial real estate properties, closed more than $120 million in acquisitions during the second quarter of 2015. These transactions added 2.97 million square feet of industrial, office, retail, multifamily and RV Parks to the firm’s portfolio. The properties were located in nine states, including Arizona, California, Colorado, Georgia, Iowa, Maine, Tennessee, Texas and Utah.

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) is providing input on discussions that the U.S. Department of Housing and Urban Development (HUD) and Federal Housing Administration (FHA) are having to give Property Assessed Clean Energy (PACE) liens “super lien” priority, which would make them senior to the FHA’s single-family first-mortgage financing

LOS ANGELES - August 18, 2015 - (RealEstateRama) -- Sustained job and income growth gave home buyers the confidence in July to jump into the California housing market, pushing home sales to their highest level in nearly three years, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Home sales have risen year over year for six straight months

Vice President Scott L. Linklater with NAI Capital represented the buyer TD Land LLC on the purchase of a 31,633 square foot light industrial manufacturing facility in the city of Simi Valley, Calif. The seller was 3990 Royal Corporation, Inc. The total sale price was $3.9M or $124 per square foot.

Senior Vice President Lynn Coker with NAI Capital secured a 10-year lease to ACME Moving and Storage. The company based out of Palm Desert, CA will open its largest location in California at 77550 Enfield Lane, Palm Desert, Calif. Coker, represented the owners in the transaction

Senior Vice President Fariba Kavian with NAI Capital represented the seller HCLARE LLC on the sale of the 22,750 square foot Sprouts Farmers Market. The sale price was well over $12 Million. In addition, the buyer paid a prepayment penalty of approximately $600K to the pay off the existing loan on the property, which was at an above market interest rate, in order to obtain better financing.

BKM Capital Partners, a fund manager and operator platform targeting value-add, multi-tenant industrial real estate in the Western U.S., has hired real estate marketing and operations executive Barbara Rea as its Director of Operations & Marketing

The ConAm Group (ConAm) is aggressively increasing its national multifamily property management portfolio through both company-owned and third-party fee management assets and has announced the appointment of Julie Brawn-Whitesides as its new Executive Vice President of Property Management as part of that strategy, according to Rob Singh and Bob Svatos, Co-Presidents of ConAm

Today the City sold $299 million in bonds to fund its contribution to the construction of the Golden 1 Center in Downtown Sacramento. The amount will be put toward the City’s $255 million share of the Golden 1 Center, nine months after the City and Sacramento Kings broke ground on the new $507 million downtown arena. The center is expected to open in October 2016.

Every region except Kings County posts lower affordability compared to previous quarter. Thirty percent of California households could afford to purchase the $485,100 median-priced home in the second quarter, down from 34 percent in first-quarter 2015 and unchanged from 30 percent in second quarter 2014

The McGrath Family, known in San Diego as pioneers in construction and real estate, have announced the sale of a portion of their retail portfolio encompassing 294,428 square feet in the Kearny Mesa submarket of San Diego, California to a commingled fund managed by Clarion Partners, working with existing partner HP Investors, LLC.

Interstate Equities Corporation (IEC), an institutional fund manager has acquired a rare, un-renovated, 46-unit multifamily community in San Rafael, California from a private family owner. The 45-year-old Marin Gardens Apartments is still in its original condition, providing a tremendous opportunity to create value, according to Marshall Boyd, President of IEC.

PowerStone Property Management Inc. a full service Orange County, California based property management firm, today announced that the prestigious Desert Princess Homeowners Association has awarded the financial service portion of their HOA property management to PowerStone. PowerStone will manage the financial services of the community, assisting the Board of Directors and the on-site staff with the preparation of the monthly financial reports.

A major residential development project, hailed as "the Miracle of Mission Street" for overcoming years of opposition with promised benefits including 360 new apartments designated as rent-controlled, is facing scrutiny over apparently unlawful uses of residential dwellings for short-term tourist accommodations.